Inferra AI / Company / GVA

Granite Construction Inc.

GVA · Industrials

Last earnings Oct 29, 2026

Key results

Revenuequarter

23%

revenue increased 23% year-over-year to $1.8 billion Q3

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Net incomequarter

$3 million

net income of $3 million compared to $103 million for the same period in the prior year Q3 adjusted net income (1) of $173 million compared to $124 million, for the same period in the prior year Q3

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

EPSquarter

$0.07

diluted EPS of $0.07 compared to $1.98 for the same period in the prior year and adjusted diluted EPS (1) of $3.81 compared to $2.70 for the same period in the prior year Q3 adjusted EBITDA (1) increased 32% year-over-year to $283 million Committed and Awarded Projects ( CAP ) (2) increased sequentially $37 million to

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Third Quarter 2026 Results Net income attributable to Granite totaled $3 million, or $0.07 per diluted share, compared to net income attributable to Granite of $103 million, or $1.98 per diluted share, for the same period in the prior year.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Current period net income was unfavorably impacted by $162 million of net non-operating charges associated with settling the conversions of our 3.75% convertible notes.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Adjusted net incomequarter

$173 million

Adjusted net income attributable to Granite totaled $173 million, or $3.81 per diluted share, compared to adjusted net income attributable to Granite of $124 million, or $2.70 per diluted share, for the same period in the prior year.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Selling, general, and administrative ( SG A ) expenses increased slightly to $104 million, and our SG A as a percent of revenue improved from 7.1% in the prior year to 5.9% in the current year.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Adjusted net income attributable to Granite totaled $287 million, or $6.17 per diluted share, compared to $211 million, or $4.67 per diluted share, for the same period in the prior year.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

AI analysis

Q3 2026 · reported Oct 29, 2026

Based on: Earnings release + parent 8-K — transcript not held

EPS · Q3 2026
$0.07
-96.5% vs year ago computed from stated figures
EX-99 · Oct 29, 2026
Net income · Q3 2026
$3M
-97.1% -$100M vs year ago computed from stated figures
EX-99 · Oct 29, 2026
Adjusted net income · Q3 2026
$173M
+140.3% vs prior quarter computed from stated figures
EX-99 · Oct 29, 2026

The quarter in charts

Diluted EPS — GAAP

Per diluted share, as stated

00.831.672.5$1.98Same quarter last year$0.07Q3 2026 (quarter)

EX-99 · Oct 29, 2026 EPS values as stated in the release.

Headline figures

MetricQ3 2026Prior qtrYear ago
Revenue23%$5 million—
Net income$3 million$72 million$103 million
EPS$0.07$1.42$1.98
Adjusted net income$173 million$72 million—

EX-99 · Oct 29, 2026

Guidance · company-stated

Direction: Reiterated

Revenue

“Outlook Our 2026 fiscal year guidance is unchanged with the exception of our revenue range as noted below Revenue in a range of $5.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Revenue12.25%

Outlook Our 2026 fiscal year guidance is unchanged with the exception of our revenue range as noted below Revenue in a range of $5.4 billion to $5.5 billion from a range of $5.3 billion to $5.5 billion Adjusted EBITDA margin in a range of 12.25% to 13.25% SG A expense as a percent of revenue in a range of 8.25% to 8.75% of revenue, inclusive of an estimated $48 million of stock-based compensation expense Effective tax rate for adjusted net income in the mid-20s Capital expenditures in a range of approximately $140 million to $160 million, including approximately $50 million in planned strategic materials investments.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Third Quarter 2026 Results Net income attributable to Granite totaled $3 million, or $0.07 per diluted share, compared to net income attributable to Granite of $103 million, or $1.98 per diluted share, for the same period in the prior year

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

Direction: Reiterated

Revenue: “Outlook Our 2026 fiscal year guidance is unchanged with the exception of our revenue range as noted below Revenue in a range of $5.”

Revenue — Reiterated (“unchanged”)
“Outlook Our 2026 fiscal year guidance is unchanged with the exception of our revenue range as noted below Revenue in a range of $5.”

Classified from the release's primary full-year outlook statement.

Capital allocation

Outlook Our 2026 fiscal year guidance is unchanged with the exception of our revenue range as noted below Revenue in a range of $5.4 billion to $5.5 billion from a range of $5.3 billion to $5.5 billion Adjusted EBITDA margin in a range of 12.25% to 13.25% SG A expense as a percent of revenue in a range of 8.25% to 8.75% of revenue, inclusive of an estimated $48 million of stock-based compensation expense Effective tax rate for adjusted net income in the mid-20s Capital expenditures in a range of approximately $140 million to $160 million, including approximately $50 million in planned strategic materials investments.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

We are also providing adjusted EBITDA and adjusted EBITDA margin, non-GAAP measures, to indicate the impact of stock-based compensation, (gain) loss on convertible debt transactions, net, gain on remeasurement of previously held equity method investment, and other costs, net, which includes strategic acquisition and integration expenses, and in 2025 legal fees for the defense of a former company officer in his now resolved civil litigation with the Securities and Exchange Commission and reorganization costs.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

We provide adjusted income before income taxes, adjusted provision for income taxes, adjusted net income attributable to Granite, adjusted diluted weighted average shares of common stock and adjusted diluted earnings per share attributable to common shareholders, non-GAAP measures, to indicate the impact of the following Acquired intangible asset amortization and acquisition-related depreciation Stock-based compensation (Gain) loss on convertible debt transactions, net Amortization of convertible debt discount Gain on remeasurement of previously held equity method investment and Other costs, net as described above.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

We also provide free cash flow as a percent of revenue, which is calculated by subtracting CAPEX as a percent of revenue from operating cash flow as a percent of revenue.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Additionally, we provide net leverage ratio, which is calculated by subtracting cash and cash equivalents from total debt divided by adjusted EBITDA.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

We believe net leverage ratio is useful for investors to evaluate our debt levels and overall financial condition.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Strategy & priorities

We delivered excellent third quarter results, reflecting strong execution across our business and continued progress on our strategy, said Kyle Larkin, Granite President and Chief Executive Officer.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Outlook Our 2026 fiscal year guidance is unchanged with the exception of our revenue range as noted below Revenue in a range of $5.4 billion to $5.5 billion from a range of $5.3 billion to $5.5 billion Adjusted EBITDA margin in a range of 12.25% to 13.25% SG A expense as a percent of revenue in a range of 8.25% to 8.75% of revenue, inclusive of an estimated $48 million of stock-based compensation expense Effective tax rate for adjusted net income in the mid-20s Capital expenditures in a range of approximately $140 million to $160 million, including approximately $50 million in planned strategic materials investments.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Our strong cash flow generation provides us with the financial flexibility to continue investing in organic growth while pursuing strategic opportunities through disciplined capital allocation.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

We are also providing adjusted EBITDA and adjusted EBITDA margin, non-GAAP measures, to indicate the impact of stock-based compensation, (gain) loss on convertible debt transactions, net, gain on remeasurement of previously held equity method investment, and other costs, net, which includes strategic acquisition and integration expenses, and in 2025 legal fees for the defense of a former company officer in his now resolved civil litigation with the Securities and Exchange Commission and reorganization costs.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Risks & headwinds

We are also providing adjusted EBITDA and adjusted EBITDA margin, non-GAAP measures, to indicate the impact of stock-based compensation, (gain) loss on convertible debt transactions, net, gain on remeasurement of previously held equity method investment, and other costs, net, which includes strategic acquisition and integration expenses, and in 2025 legal fees for the defense of a former company officer in his now resolved civil litigation with the Securities and Exchange Commission and reorganization costs.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

In addition, our business and operations involve numerous risks and uncertainties, many of which are beyond our control, which could result in our expectations not being realized or otherwise materially affect our business, financial condition, results of operations, cash flows and liquidity.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Such risks and uncertainties include, but are not limited to, those described in greater detail in our filings with the Securities and Exchange Commission, particularly those described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Due to the inherent risks and uncertainties associated with our forward-looking statements, the reader is cautioned not to place undue reliance on them.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

What changed vs prior quarter

Guidance direction — prior quarter: Raised; this quarter: Reiterated

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Net income — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Granite Construction Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Documents

Filings

33 documents

Earnings releases

8 documents

Presentations

0 documents

No presentations for Granite Construction Inc. are held in this edition of the library.

Transcripts

0 documents

No transcripts for Granite Construction Inc. are held in this edition of the library.

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